Data: How Manufacturing Benefits From Change Management

Change management is crucial for manufacturers to remain competitive and adapt to the ever-evolving business landscape.

Here are some key reasons why manufacturers should implement effective change management strategies, backed by research and data: 

• Manufacturing faces constant disruptions from supply chain issues, fluctuating demand, workforce dynamics, and technological advancements. A study by Deloitte found that 92% of manufacturing executives believe their organizations need to be "change-ready" to remain competitive.
  
  
• Change management allows manufacturers to pivot quickly and maintain productivity despite significant challenges. The manufacturing workforce is undergoing a generational shift due to the "Great Resignation," with experienced workers retiring and new employees requiring extensive training.
  
  
• Effective change management ensures a smooth transition and knowledge transfer during this workforce transformation. Digital transformation is a major driver of change in manufacturing. A report by McKinsey & Company states that companies with successful digital transformations are 16% more profitable than industry peers. Change management is crucial for seamlessly adopting new technologies and optimizing processes. 
  
  
• Research by Prosci found that projects with excellent change management are six times more likely to meet objectives than those with poor change management. Without a structured approach, employees may resist changes, leading to lower productivity, morale, and customer satisfaction.
  
  
• A study by the Harvard Business Review revealed that organizations with a strong change management approach were 3.5 times more likely to outperform their peers in organizational health metrics.